Lewis Charles seeks 40m euros on the London Stock Exchange

Lewis Charles Romania Property Fund, a real estate investment fund, intends to float 58% of its stock on the AIM market in London in a bid to raise the capital it requires for investments on the Romanian real estate sector, both for the residential and commercial segments. The company anticipates a capitalisation of 40m euros (27.4m pounds), with a share value of 2 euros (1.4 pounds), according to Thomson Financial. The manager of the fund is Lewis Charles Securities, a company registered in Guernsey, the Channel Islands. The company wants to become an active investor on the Romanian market and its preferred method will be the sealing of partnerships with development firms. Acquisitions will be 70% financed through banking loans. Another British real estate investment fund, listed on the Stock Exchange and carrying out investments in Romania, is Fabian Romania Property Fund, whose portfolio includes nine real estate properties on the domestic market.